Overview and Scope
A note sorter refers to a machine that optimizes the cash management process by sorting and bundling the notes efficiently based on the denomination. They are used for bundling, sorting, and counting the notes or cash.
Sizing and Forecast
The note sorter market size has grown strongly in recent years. It will grow from $6.08 billion in 2023 to $6.53 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to demand for high-speed sorting, cash management optimization, counterfeit detection and security measures, rise in cash-based transactions, banking and financial sector growth.
The note sorter market size is expected to see strong growth in the next few years. It will grow to $8.7 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to sustainability initiatives, demand for mixed denomination sorting, focus on operational efficiency, global banking expansion, cash recycling and atm automation. Major trends in the forecast period include green and sustainable solution, adherence to regulatory standards, enhanced user experience, integration with cash recycling systems, rise in contactless transactions.
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Segmentation & Regional Insights
The note sorter market covered in this report is segmented –
1) By Sorter Type: Small-Sized Note Sorter, Medium-Sized Note Sorter, Large-Sized Note Sorter
2) By Enterprise Size: Large Enterprises, Small and Medium Enterprises
3) By End User: BFSI, Retail, Other Users
North America was the largest region in the note sorter market in 2023. The regions covered in the note sorter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing growth of commercial banks is expected to propel the note sorter market going forward. A commercial bank is a financial institution that offers its customers services such as loans, savings bank accounts, and bank overdrafts. These banks make money by charging interest on the money they lend to customers. Note sorters are used in commercial banks for checking the authenticity and fitness of notes and facilitating the management of notes for cash. They help in identifying and segregating suspected counterfeit notes. For instance, in 2021, according to World Bank Open Data, a US-based provider of global development data, the number of global commercial bank branches per 100,000 adults increased from 10.7 banks in 2020 to 11.2 banks in 2021. Further, the total deposits at US commercial banks stood at around $18 trillion in 2021. Therefore, the increasing growth of commercial banks is driving the note sorter market.
Key Industry Players
Major companies operating in note sorter market are focusing on product innovations such as Teller Cash Recycler (TCR) solutions. Teller Cash Recyclers are sophisticated equipment used in banks to streamline branch and drive-through operations, cut personnel expenses, and improve security and customer-centricity. For instance, GLR-100 is a new GLR series of Teller Cash Recycler (TCR) solutions. The unique features of GLR-100 provide high-speed note counting, high-capacity storage, self-audit capabilities, and secure cash transfer between the teller and the vault. The new GLR solution is designed to integrate easily with Glory’s secure cloud based UBIQULARTM solutions, which provide better business intelligence and enable remote monitoring and management of devices across the branch network.
The note sorter market report table of contents includes:
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List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Note Sorter Market, Segmentation By Sorter Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Note Sorter Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Note Sorter Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
………..
Table 73: Africa, Note Sorter Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 74: Bcash Electronics Co. Ltd. Financial Performance
Table 75: Crane Payment Innovations Inc. Financial Performance
Table 76: De La Rue Plc Financial Performance
Table 77: Giesecke & Devrient GmbH Financial Performance
Table 78: Glory Global Solutions Limited Financial Performance
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